Why the Internet of Health Things is the sector to watch

Over hyped, revolutionary technologies have been around since man started talking big and sharing news. But every once in a while, something comes along which fires the imagination and which can truly make an impact on society.

This is why we're excited about health tech and, more specifically, the Internet of Health Things (IoHT). Sure, the size of the market opportunity is mind boggling. And the tech behind it is super innovative. But the real story is the benefit this tech development will deliver.

While fear of change will always hold back the adoption of new ideas, the momentum we're seeing in the health tech space is seemingly increasing month by month. Our passion is to tell the stories behind the tech and to help innovators, entrepreneurs and health care professionals explain the potential of this tech driven revolution in health care.

The @Accenture report into The Internet of Health Things https://accntu.re/2pCNAC5 by @BKalis and @RonanWisdom highlights the imperative of putting the consumer first - encouraging providers and payers to use IoHT solutions that drive better experiences and healthier patient outcomes. It's one thing doing this, it's quite another being famous for it.

So as the IoHT revolution gathers steam, we put a call out to those providers to educate, inform and build the trust necessary to ensure that the patient / consumer community feels secure and comfortable with the new technologies that are going to form a key part of their medical pathway.

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To put a dollar figure on what all this change amounts to, Accenture cites an eMarketer’s forecast saying the value of IoHT will reach $163 billion by 2020, with a Compound Annual Growth Rate (CAGR) of 38.1 percent between 2015 and 2020.
And within the the next five years the healthcare sector is projected to be “number one” in the top 10 industries for Internet of Things app development. As a separate Accenture report notes, the insurance industry is primed for AI.